Outlook for Energy
The Outlook for Energy is ExxonMobil’s latest view of energy demand and supply through 2050. For many years the Outlook for Energy has helped inform ExxonMobil’s long-term business strategies, investment plans, and research programs.
Key takeaways of 2050 projections
Energy and human development are inextricably linked
Industrial sector represents 50% of energy end use
Global energy-related emissions peak; more effort needed to achieve Paris Agreement goals
Oil and natural gas play an important role over the coming decades in Lower 2°C pathways
Energy demand grows 15%
Transportation energy demand is expected to grow by more than 20%
Reaching a Lower 2°C pathway requires innovative solutions and supportive policies
Global energy fundamentals
Energy is essential for human society’s progress. Economic expansion and improving access to energy enable longer, more productive lives for the growing global population.
Energy demand: Three drivers
Policy. Technology. Consumer preferences. All three impact how the world uses energy. Each driver influences the other and changes over time, with variances by region and political climate.
Energy – in all its forms – enables growth and prosperity. As economies grow, as technology advances, as consumers become more environmentally aware, and as policies adapt, global energy demand will evolve to meet changing needs.
Providing reliable, affordable energy to support prosperity and enhance living standards is coupled with the need to do so in ways that reduce impacts on the environment, including the risks of climate change.
Advancing Climate Solutions - 2022 Progress Report
The move to a lower-emission future requires multiple solutions that can be implemented at scale to address some of the highest-emitting sectors of the economy. This is where we are focused, leveraging our experience and long history of meeting vast complex challenges.
How we develop our Outlook
Monitoring policy and technology trends
The Company monitors changes in technology, such as solar panels getting cheaper, batteries improving, as well as policy developments like the EU’s tailpipe emissions regulations and China’s coming 14th five-year plan.Explore